Are “Singles” the New Timeshare Market?

We've done recent blogs on both Millennials and Baby Boomers as viable sources of timeshare buyers, but now it seems there is another viable source to consider - singles. A 2013 Gallop Poll population survey found that only 54% of the US population was married. With barely half of the adult population of the US married, that leaves a lot of singles - about 103 million of them.
In the past, timeshare marketers tended to overlook singles as potential buyers; sometimes even requiring marriage as a prerequisite to attending a time share presentation. As Ph.D. Richard Ragatz says in his study of the timeshare industry, the reasons listed for ignoring singles as prospects were: "they weren’t as stable as married couples, single women didn’t have the money, and single men would not fit in at a family resort." But that study was done in 1978, and as we all know, things have changed considerably.

5 Reasons to Market to Single Buyers

1. Singles are active: Timeshares appeal to the single buyer because many are looking for an active vacation with plenty of ways to socialize. Timeshare resorts offer numerous activities, dining and nightlife choices. The timeshare lifestyle is fun!
2. Singles like to have choices: Some don’t want to be tied to one location and appreciate the flexibility a timeshare offers such as the opportunity to exchange for a different resort in a different destination. 
3. Singles appreciate security and also getting the most for their money: A timeshare is perfect for singles that like to vacation in their favorite location year after year. They like accommodations that are familiar, secure and have room for a guest. Though they have discretionary income, maybe they don’t want to get involved in purchasing a vacation or second home that often includes a large down payment or the hassle of a another mortgage. Timeshares offer an easier and less expensive option.
4. Singles have children: Most timeshare resorts have activity programs for children - pools, water parks, playgrounds, and other activities built around children. Single parent families can have all the comforts of home - kitchen, entertainment center, separate bedrooms and plenty of room to spread out. Some resorts even offer babysitting or can provide a list of qualified sitters, and may help with arrangements for family activities in the area.
5. Singles may someday get married: A 2013 Gallop Poll on the importance of marriage found that of unmarried singles, 21% of all adults 18 and over want to get married and a whopping 56% of unmarried 18-34 year olds want to get married.  If they've enjoyed the timeshare experience, they know that one of the advantages of a timeshare includes a great family vacation. Plus, they'll have the perfect place to impress their significant other and maybe the perfect place for a wedding! 

Let’s keep the current strong growth in the timeshare industry going and make sure we don’t overlook any segments of the population that could potentially be timeshare buyers. Current Articles like Judy Kenninger’s "The Power of One", in Interval International’s Resort help to reinvigorate the topic of singles as potential buyers, and to remind timeshare marketers of the potential of this market.
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